Hamilton Insurance Group (NYSE:HG) Reaches New 12-Month High After Analyst Upgrade

Hamilton Insurance Group, Ltd. (NYSE:HG)’s stock price hit a new 52-week high during mid-day trading on Friday after Keefe, Bruyette & Woods raised their price target on the stock from $28.00 to $30.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Hamilton Insurance Group traded as high as $26.99 and last traded at $26.98, with a volume of 453994 shares traded. The stock had previously closed at $25.74.

HG has been the subject of a number of other research reports. Barclays lifted their target price on Hamilton Insurance Group from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. JMP Securities set a $32.00 price objective on shares of Hamilton Insurance Group in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Hamilton Insurance Group in a research report on Wednesday, October 8th. Wall Street Zen upgraded Hamilton Insurance Group from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Finally, Morgan Stanley boosted their price target on Hamilton Insurance Group from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.63.

Insider Buying and Selling

In other news, CEO Alexander James Baker sold 18,350 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $26.19, for a total value of $480,586.50. Following the sale, the chief executive officer directly owned 84,136 shares in the company, valued at approximately $2,203,521.84. This trade represents a 17.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Keith Donald Bernhard sold 47,000 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $24.37, for a total transaction of $1,145,390.00. Following the completion of the transaction, the insider owned 53,893 shares of the company’s stock, valued at $1,313,372.41. This represents a 46.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 17.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HG. CWM LLC boosted its holdings in Hamilton Insurance Group by 172.6% during the first quarter. CWM LLC now owns 1,698 shares of the company’s stock worth $35,000 after buying an additional 1,075 shares in the last quarter. Versant Capital Management Inc raised its holdings in Hamilton Insurance Group by 1,404.4% in the third quarter. Versant Capital Management Inc now owns 1,700 shares of the company’s stock valued at $42,000 after acquiring an additional 1,587 shares in the last quarter. Flaharty Asset Management LLC bought a new position in shares of Hamilton Insurance Group in the 1st quarter worth about $62,000. State of Alaska Department of Revenue bought a new stake in Hamilton Insurance Group in the 3rd quarter valued at about $71,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of Hamilton Insurance Group by 14.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,595 shares of the company’s stock worth $99,000 after buying an additional 585 shares in the last quarter. 29.17% of the stock is currently owned by institutional investors and hedge funds.

Hamilton Insurance Group Trading Up 5.4%

The firm’s 50 day moving average is $24.66 and its 200 day moving average is $22.80. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 6.46 and a beta of 0.81. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.05.

Hamilton Insurance Group (NYSE:HG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.61. The business had revenue of $698.85 million during the quarter, compared to analyst estimates of $537.70 million. Hamilton Insurance Group had a net margin of 15.95% and a return on equity of 15.07%. Equities analysts forecast that Hamilton Insurance Group, Ltd. will post 4.1 earnings per share for the current year.

Hamilton Insurance Group Company Profile

Hamilton Insurance Group, Ltd., through its subsidiaries, provides underwriting specialty insurance and reinsurance risks in Bermuda and internationally. The company operates Hamilton Global Specialty, Hamilton Select, and Hamilton Re underwriting platforms. The company offers casualty reinsurance products, such as commercial motor, general liability, healthcare, multiline, personal motor, professional liability, umbrella and excess casualty, and worker's compensation and employer's liability reinsurance; property reinsurance and insurance; and specialty reinsurance solutions, including accident and health, aviation and space, crisis management, mortgage, financial lines, marine and energy, and multiline specialty.